Richard Burgon – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Richard Burgon on 2016-03-23.

To ask Mr Chancellor of the Exchequer, what advice he has received from (a) the Governor of the Bank of England and (b) Rothschilds Bank on the proposed sale of Government shares in Royal Bank of Scotland since August 2015; and if he will place a copy of such advice in the Library.

Harriett Baldwin

HM Government reached an agreement with RBS and the European Commission on 9 April 2014 to amend the terms of the Dividend Access Share (DAS). The full terms of this agreement can be found on the European Commission’s website:


The first sale of Royal Bank of Scotland (RBS) shares was conducted in August 2015. The advice which the Chancellor received from a) the Governor of the Bank of England; b) N.M. Rothschild; c) HM Treasury; and d) UK Financial Investments (UKFI) is available on the Government’s website:


The government has not undertaken any sale of RBS shares since August 2015.